Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Two World War II planes collided during an air show in Dallas, USA. Air Force said – 6 peop
Another major revelation has come to light in the security lapse case in Parliament. The diary ha
Elections 2022: The Central Election Commission has discussed with the Health Ministry to the Dir
The Supreme Court has held that if a person is not an accused, but it appears that he has committ
Udaipur Murder Case: Removed IG-SP, Friday prayers amid curfew, and Rath Yatra at 3 pm
After the murder of Taylor Kanhaiyalal in the Dhanmandi police station area of Udaipur, the
Natasha Stankovic and Hardik Pandya split after announcing their divorce in July this year. Meanw
Yogi government also opposed Ashish Mishra's bail in Supreme Court, also gave reason
The UP government has opposed in the Supreme Court the bail of Ashish Mishra, accused of crushing
Pakistan is facing a financial crisis. Pakistan, which is struggling with the condition of povert
Kisi Ka Bhai Kisi Ki Jaan Actor Salman Khan: Salman Khan's film Kisi Ka Bhai Kisi Ki Jaan is abou
The government will deal strictly with any form of misleading information, rumors, or malicious p
